Financial Transparency Coalition

Washington Post Editorial: A compromise with the United States on disclosure would be in the public interest.

ZURICH (Dow Jones)--UBS AG's (UBS) high-profile spat with the U.S. Internal Revenue Service has made some of Switzerland's other banks wary of looking after U.S.-based clients, prompting some to stop taking money from Americans altogether and menacing the country's image as a private banking center.

GULFPORT, Miss. (AP) - Paul Richard Arceneaux, a resident of Church Point, La., has been sentenced to 46 months in prison for failing to file personal tax returns and corruptly interfering with the due administration of Internal Revenue laws.

James B. Stewart: Do you know anyone with a Swiss bank account? I don’t, which is probably no surprise since the whole point is secrecy. But evidently there are plenty of Americans who do—at least 52,000 at UBS alone—whose identities the Internal Revenue Service and the Department of Justice are trying to learn.